My $5,000 Per Month Passive Income Experiment

WayneOctober 4, 2013

Can you remember the feeling of finally finding something that you’ve been searching for for a long time? It’s an exciting and exhilarating feeling, one that makes you feel at peace and excited all at the same time!

For me, I’ve spent years reading, studying, learning about making money in a non-traditional way.. that is, on the Internet. My dream has always been to find a way to earn a full time living using a business model that allows some pretty specific benefits. That business model has been elusive to me for many years… up until yesterday:

My Criteria for a Dream Business

Before I get into the details of what I found yesterday, let me share with you the specific criteria that I’d like my money-making endeavor to fulfill for me. The dream business for me would allow me to:

Work from anywhere

Put in my work hours when it’s convenient for me, not when my company tells me to be there.

Have freedom and flexibility to take care of my life needs as they come up, not just on nights and weekends

Earn enough money to live the life I want for me and my family. I could work more or less to ramp up or down the income as needed.

Oh, and I’d like for the business to be an investment. Meaning I’d like to invest time and energy to build something that continues to give back year after year. I don’t want to just trade time for money.

A pretty specific list, but one that I’ve spent years thinking about and perfecting. Given my style of working and what I need to be happy and productive, this list would perfectly define my dream business.

I’ve spent many years studying various business models, even going so far as to hire a personal coach and mentor to help me, but have yet to find one that makes enough sense to me to implement. Even the mentor, while very good, wasn’t able to help me find a sustainable business model that fit my criteria (above).

What’s Holding Me Back, you might Ask?

To be completely honest, today I have a traditional corporate job that comes pretty close to fulfilling this list. That’s part of my problem… the job I have now is more than “good enough”, so I don’t have a compelling reason to make myself change. So I’ve decided not to change completely, but build my dream business on the side (after work hours of course!). Assuming it goes well, eventually it could replace my “day job”.

The problem is that I am not the most creative guy in the world. I can follow instructions like no-one’s business, but taking lots of different ideas and putting them together isn’t my forte. That’s been my problem with my Internet Marketing education… I understand all of the pieces, but haven’t had a comprehensive roadmap to follow… up until yesterday!

So What Did I Find?

While searching through Amazon.com yesterday for business-related books (a favorite pastime of mine!), I came across an author, Mike Omar, with a book titled:

Step-by-Step Plan for earning $5,000 per month in passive income (meaning set it up, then leave it alone and it keeps earning month after month)

What really got me was the subtitle stated “make $5,000 per month passive income from with a website portfolio of 10 sites each earning $500 per month”.

Wow, specific and realistic! Coupled with the fact that the book cost a whopping $2.99, I took a chance and bought it.

After a couple of hours reading, I’ve mostly finished the book and am very impressed with the layout. Bottom line is that I’ve decided to implement the ideas in the book to see if I can really make $5,000 per month in passive income following the Mike Omar’s instructions. As I mentioned, I am really good at following directions, so I’m going to give it a try to see what happens.

What’s in it for You?

For you, my loyal reader, the benefit is that I will be documenting each step here on this site so you can see if this program really does work. Follow along and see how I progress, then decide if this is something for you.

Leave me a message below talking about your experiences making money online. Have you been successful? If so, what techniques have you used?